Reno Mortgage Rates Dip Again to Lows
The chart below shows the steady drop in mortgage interest rates since the beginning of 2016. This is important information for any potential home buyer in the Greater Reno-Tahoe area.
Home Mortgage Rate Update
There has been quite a bit of press and news coverage recently about mortgage interest rates heading higher over the next twelve months. You may have come across projections from Fannie Mae, Freddie Mac, the Mortgage Bankers’ Association and the National Association of Realtors. Each predicted that rates would begin to rise slowly and steadily throughout 2016.
As you probably know, the declines in the stock market this year have been at historic levels to start a new year. This turmoil in addition to concerns over global economic conditions have caused rates to drop six out of the last seven weeks, and have remained at 3.65% for the past two weeks.
Rates have again fallen to historic lows yet many experts still expect them to increase in 2016. The only thing we know for sure is that, according to Freddie Mac, current rates are the best they have been since last April.
Take Advantage of Low Rates to Secure A Home Now
If you have been considering a home purchase and would like to lock in a payment amount based on these low rates, please give us a call to start the process. We can introduce you to a local lender to help you get started. In the meantime, take a look over existing homes for sale in our area now from the button below:
Broker - CalNeva Realty